4age 20v smoking

[novocaine]

Hi guys,

Im from Cape Town, South Africa, i drive a corolla 20v.

The car smokes, if i start it up theres nothing, then after a few minutes sometimes you will start to see some light grey smoke.. when driving the car hard it smokes and my oil goes rather quickly: From the high mark to the low mark on the dipstick in one week, about 550km.

The car does NOT feel underpowered at all, in fact i just fitted a 63mm exhaust and its going better than ever.

I know the symptoms of worn oil rings are smoke and loss of compression and hence performance, but i dont feel a drop in performance at all.

Could it be the valve stem seals?
It doesn't puff smoke on decceleration or when starting the car, in fact if its not idling it only smokes under hard acceleration.

Any help/insight would be appreciated, thanks.